Montgomeryville, PA Cost of Living

Montgomeryville cost of living index

In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.

The above illustration supplies generalized information for the Montgomeryville, PA cost of living index. Compared to other cities in Pennsylvania and cities across the country, the cost of living index in Montgomeryville, PA is 128, which is 29% higher than the Pennsylvania average and 28% higher than that for the entire country. The index is comprised of the following criteria: cost of retail goods and services (33%), groceries (13%), health care (5%), housing (30%), cost of public/private transportation (9%) and utilities (10%). Everyday goods and services, along with housing account for 63 percent of the total cost of living index. Goods and services that are a necessity regardless of location provide an accurate general sense of the cost of living in one city versus another. As seen above, the cost of retail goods and services in Montgomeryville, PA are 7% higher than the average for Pennsylvania and 7% higher than the rest of the country.

Did you know?

The cost of living in Montgomeryville is 29% higher than the Pennsylvania average.

The cost of living in Montgomeryville is 28% higher than the national average.

The cost of housing in Montgomeryville is 65% higher than the national average.

Pennsylvania general sales tax is 18% higher than the national average.

Pennsylvania state income tax is 38% higher than the national average.

Compare Montgomeryville, PA Cost of living To Other Cities

Salary Calculator

I currently make 50,000This is how much you would need to earn in Price difference in compared to

Cost of living index

Goods & Services index

Groceries index

Health care index

Housing index

Transportation index

Utilities index

The salary calculator allows you to compare how much your current salary in Montgomeryville, PA would be worth in another city. In other words, the salary calculator will adjust the figure you enter for cost of living so that you can determine how much more or much less you would need to earn while maintaining your current quality of living. If you are considering relocating to a more expensive city than Montgomeryville, PA, the calculator will tell you how much more you need to earn so you can assess job offers more accurately. The Montgomeryville, PA salary calculator is easy to use. All you do is enter the name of another city, then move the slider to your current income. After that, the salary calculator will crunch the numbers for you and give you the information you need about the place you are considering going. Additionally, it will show a detailed breakdown of the cost of living.

Median Income & Debt-To-Income Ratio

Median Income

Per Year

Per Month

Max Budget (28% DTI)

Max Budget (36% DTI)

Owners

$110,343

$9,195

$2,574

$3,311

Renters

$65,000

$5,417

$1,517

$1,950

If you want to find a good determining factor for the cost of living and the general affordability of housing in Montgomeryville, PA, all you must look at is the percentage of monthly income that should be spent on housing expenses, otherwise known as the debt-to-income ratio (DTI). Generally speaking, no more than 28 percent of your total gross income should be spent on your housing expenses and not more than 36 percent of your gross income on total expenses, including debts. In Montgomeryville, PA, the median monthly income is $110,343 for those who own their own homes. Under the standard rule, that income level would allow for $2,574 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $65,000, per the median income in the area. That would allow for renters to spend up to $1,517 on monthly rental expenses.

Pennsylvania Sales Tax

State

General Sales Tax

With Max Surtax

Pennsylvania

6%

8%

Pennsylvania Income Tax

State

Income Tax (Low)

Income Tax (High)

Pennsylvania

3.07%

3.07%

When assessing the complete cost of living in Montgomeryville, PA, the Pennsylvania income tax and the Pennsylvania sales tax percentages should unquestionably be taken into consideration. Sales taxes aren't just levies imposed onto sold goods, but they also include taxes that are charged when services are provided for a fee. The rates are different from state to state and can run has high as 7 percent. Some states have no sales tax at all. The Pennsylvania maximum surtax is 8%, and the Pennsylvania sales tax is 6%. By contrast, income tax is an unfortunate obligation that is charged by the government against earnings. Just like sales taxes, the rates for income taxes differ from state to state. They also decrease or increase according to the individual's tax bracket. Tax rates can run as high as 9 percent, with a minimum of zero. Income tax rates range from 3.07% to 3.07% in Pennsylvania.

Goods & Services

Item

Montgomeryville

National avg.

Difference

Haircut

$18.39

$16.09

14.3%

Beauty Salon

$56.27

$37.33

50.7%

Toothpaste

$2.19

$2.45

10.5%

Shampoo

$0.99

$1.00

1.1%

Movie

$12.27

$10.28

19.3%

Bowling

$5.21

$4.93

5.6%

Groceries

Item

Montgomeryville

National avg.

Difference

Ground Beef

$4.16

$3.80

9.3%

Fried Chicken

$1.46

$1.40

4.3%

Milk

$2.11

$2.01

4.9%

Potatoes

$3.82

$3.01

27.0%

Pizza

$10.33

$9.89

4.5%

Beer

$8.63

$8.90

3.0%

Health Care

Item

Montgomeryville

National avg.

Difference

Optometrist

$100.71

$102.16

1.4%

Doctor

$130.24

$108.36

20.2%

Dentist

$96.14

$92.53

3.9%

Ibuprofen

$9.55

$9.28

2.9%

Lipitor

$387.28

$425.82

9.1%

Housing

Item

Montgomeryville

National avg.

Difference

Home Price

$317,400.00

$184,700.00

71.8%

Avg. Mortgage Payment

$1,546.68

$1,202.44

28.6%

Apartment Rent

$1,410.00

$949.00

48.6%

Transportation

Item

Montgomeryville

National avg.

Difference

Gasoline

$2.48

$2.24

10.5%

Tire Balancing

$57.62

$46.29

24.5%

Utilities

Item

Montgomeryville

National avg.

Difference

All Electricity

$177.22

$165.96

6.8%

Phone

$42.00

$28.68

46.4%

Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.